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3 comments:

Is dacoit Sachin Agarwal in Kasba Peth ?If Dawood is reading this, he will be ashamed that his level has fallen so low that he is being compared with some sadak chap CREDAI builder.And here is another news which will hammer builders err crooks further forcing them to slash prices.

No salary hike for freshers in IT space amid hiring blues :

Fresh engineering graduates, who are finding it increasingly tough to land a job in India's $160-billion IT industry with each passing year due to lower levels of hiring, may have to deal with another disappointment this year — their starting salaries are unlikely to see a spike anytime in the near future and will largely remain stagnant at their decade-old levels.

Fresher level salaries will stay stagnant at the Rs. 3-3.5 lakhs level in the near term.

"If there is a glut of freshers compared to the demand, they (1) may be hired at a pay lower than what would have been the case earlier, (2) may not receive pay-hikes initially, (3) their promotion packages may not be as generous and (4) they may take much longer time to be promoted; all these add up to a meaningful loss in purchasing power during the tenure of the professional," they added.

Moreover, stagnant salary levels could also have a long-term impact of salaries of senior engineers and mid-level managers at IT firms. It is quite possible that low-growth industries may see a correction in the salaries of the seniors - and this can have quite a meaningful impact on the consumption dynamics.

For an IT services firm, it makes sense to hire 3 freshers @ 15k over 1 experienced @ 70k. (As they can fabricate man-hour rating to fool end client, But again end client has turned intelligent to develop automated systems to mitigate recurring costs). So yes, mid level, senior level will be facing severe competition to hold on to their post. Being huge gap in demand/supply freshers, too shall face. It will happen slowly over the time, will definitely hamper RE market. Greed will find it's way out of market and RE bubble will burst. World economy including our is entering into Long term debt cycle which is about to last for decades compromising of short term up-downs.